Early this month, South African voters lined up in the voting areas to elect their next leaders. When the results were announced, it was as the market was expected. On the presidential level, Cyril Ramaphosa, who ran in the Africa National Congress (ANC) party won. In parliament, the support for the ANC weakened also as […]
Europe has a problem. As shown in the chart below, the biggest indices in the region – CAC 40, DAX, and FTSE – have been hammered by their trans-Atlantic counterparts. To understand the problems facing Europe, it is important to understand why the European Union exists in the first place. The EU was formed to […]
Whenever there is a conflict on trade issues, one of the most affected financial assets is copper. As you probably know, copper is one of the most-used metals in the world. Its efficient conductivity and the fact that it is malleable and ductile means that it is the most widely-used metals in electric goods. Therefore, […]
USDCHF rebounded on the 1.0007 support level in the preceding week, remaining above the ascending trend line, which has been holding since September 2018. The stochastic oscillator has come off from the negative level indicating positive movements despite the bearish cross within the 20- and 40-day moving averages near the current market action. The pair entered […]
In this month, the USD/CAD pair has repeatedly tried to subdue the 1.35 mark, but so far, it has not managed to consolidate above this level. Despite a rather positive statistical data from Canada, the USD / CAD pair has been trading upward over the past six weeks. Today, the results of the next meeting […]
Microsoft price moved lower over the last few sessions, after it hit a new a multi-month high around 130.64, remaining in a short-term narrow range of 122.94 – 130.64. Looking at the momentum indicators, the RSI is flattening around the 50 level, while the stochastic is trying to turn higher in the daily timeframe. A […]
The euro is under pressure and the US market is rather looking down. Yet, the economy remains strong. There is no reason for a crisis right now. On the market is a stop period. All major topics are deadlocked. The resignation of Prime Minister May in Britain has stopped the situation on Brexit for at […]
Bitcoin has been bearish with the recent rejection off the $9,000 area which lead the price to reside at the edge of $8,500. However, the bullish bias is still quite strong and expected to continue pushing the price higher with target towards $10,000 in the coming days. As per candlestick arrangements, Bitcoin is within a […]
The Japanese yen has every chance to continue climbing. The currency strengthened to a two-week high against the dollar amid fears of a further escalation of the trade conflict between the United States and China. Another “surge” sent investors to a safe haven. The reason for this was unexpectedly aggressive rhetoric in the pages of […]
There is no important news on the market today. EURUSD: Growth has stopped. The euro fell again under the inexorable pressure of sellers and retreated to 1.1150. The growth has stopped, and we return to the range. However, the exit from the long range and the trend is inevitable. We are ready to buy the […]
EUR / USD On Tuesday, May 28, the EUR / USD pair trading ended in a further 30 basis points. It would seem that the American statistics summed up the dollar at the end of last week. On the other hand, the euro received good chances for building an ascending wave, even though it does […]
Working outside the monthly CZ of May provides an opportunity to search for favorable prices for the purchase. The “false breakdown” should become the main pattern since it will allow entering the zone of large limit purchase orders. Any sales from the current marks will be unprofitable at a distance since the probability of closing […]
The intermission of Brexit’s theatrical production continues and the macroeconomic calendar is full of all sorts of things that are of little interest to anyone. Thus, investors simply do not have any ideas. Indeed, consumer lending in Europe accelerated from 3.2% to 3.4% and according to BBA, the number of approved mortgage loans in the […]
The British currency is still under pressure from political uncertainty. Slowing down its fall, the pound paired with the dollar froze in anticipation of news impulses that will be associated primarily with personnel policies in Downing Street and the prospects for the June vote for the draft of Brexit deal. After the resonant (but expected) […]
EURJPY plummeted to a new four-month low of 121.80 earlier today, continuing the selling interest from the 123.75 resistance zone. The pair also dropped beneath the 20- and 40-simple moving averages (SMAs), which recently posted a bearish cross, while the stochastic oscillator slipped into the oversold area. Moreover, the RSI is ready to cross below the 30 level […]
To open long positions on GBP/USD, you need: After the recent growth of the pound against the background of Theresa May’s statement about her resignation, to date, the British pound has lost all its positions and is on the verge of another major fall. Yesterday, buyers failed to break through the level of 1.2696, which […]
On Tuesday, the market in both currencies moved down. The GBP / USD pair could not reach the lower fractal of 1.2605 while moving down. The EUR / USD pair, when moving down, tested the pullback level of 50.0% – 1.1162 (yellow dotted line), but did not go below. On Wednesday, strong calendar news come […]
Manufacturing PMIs out of China in the coming days will provide investors with the first indication of how the world’s second largest economy performed in May. The official manufacturing gauge is due first on Friday at 01:00 GMT, followed by the Caixin/Markit manufacturing PMI on Monday at 01:45 GMT. With no end in sight to […]
This May the XM forex seminar series reached two further Thai cities, where we were pleased to welcome numerous retail traders in person who joined the educational events in Chiang Rai on 11th May and then in Chonburi on 25th May. In both cities, forex instructor Sompop Jittrakul explained the use of trend reversal and […]
Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned […]
To open long positions on EURUSD, you need: Yesterday’s report on consumer confidence in the US led to a new wave of EUR/USD decline. At the moment, the upward momentum will depend on the level of 1.1170, the return on which will increase the demand for the euro, which will lead to an update of […]
Today’s trading plan should take into account the multiple tests of 1/2 WCZ at 0.6940-0.6933. As long as the pair is trading below the specified zone, the probability of the resumption of the downward movement is high. The pattern for sale will be a false breakdown of Monday’s high. If this happens, then the goal […]
When the European market opens, some economic data such as German Unemployment Change, French Prelim GDP q/q, FrenchPrelim CPI m/m, French Consumer Spending m/m will be published. The US will release Richmond Manufacturing Index. Amid reports, the EUR/USD pair will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY […]
Morning Report: 07.00 London This morning the Japanese yen is in control as traders seek out safer harbours. The yen pairs are on the back foot, as the USD/JPY drops for the second straight day, with the lows at 109.00 the likely target. The GBP/JPY is extending its losing run, though is holding up relatively […]
Today, Japan will not release any Economic Data’s but the US will provide some economic data such as Richmond Manufacturing Index. Thus, there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL:Resistance. 3 : 109.94.Resistance. 2: 109.73.Resistance. 1: 109.51.Support. 1: 109.24.Support. 2: 109.03.Support. 3: 108.81.(Disclaimer) […]
Technical Market Overview: After the failure to rally higher, the GBP/USD market reversed and now is testing the technical support at the level of 1.2668. The volatility is limited as the market trades in a narrow zone between the levels of 1.2647 – 1.2683. The momentum went back to the negative territory, so the odds […]
Technical Market Overview: The EUR/USD pair is in full retreat mode after the Gravestone Doji candlestick pattern was made below the trendline dynamic resistance around the level of 1.1215. The price has now broken below the support (now resistance) at the level of 1.1174 and is heading lower, towards the level of 1.1111 again. The […]
Crypto Industry News: The state of Montana in the USA has recognized the utility tokens and excluded them from state securities, adopting a new law this month. Law 584, entitled ‘General Review of the Cryptocurrency Rules’, was signed by Governor Montana, Steve Bullock. The project, initiated by state representative Shane Morigeau, had its first reading […]
Crypto Industry News: The new banking law developed for the Central Bank of Egypt (CBE) would require a license before the creation, advertising or servicing of platforms for the issue or trading of cryptocurrencies. Referring to the official source remarks for the Egyptian MENA news agency, it was found that the bill, if adopted, would […]
AUDUSD is regaining some losses after the violent sell-off towards the four-month low of 0.6864 in the prior week, sending prices above the red Tenkan-sen line and the 23.6% Fibonacci retracement level of the downfall from 0.7390 to 0.6746. The RSI is currently increasing positive momentum towards its neutral threshold of 50 after an exit […]
